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All the best,
The SK Accountants team
Small business confidence dips ahead of new customs controls coming into force
Four in 10 exporters have reported a fall in international sales since the end of the Brexit transition period, a major study has revealed. According to the tracker, four in 10 – around 41 per cent of traders – have reported a “drop off” in international sales in the three months to September 2021.
Business
Spring Statement 2022 summary
Mr Sunak found himself addressing MPs against a background of crisis, with the residual impact of COVID, the invasion of Ukraine and the cost-of-living crisis all affecting the economy in different ways.
Business
Bank campaign launched as businesses baffled by carbon jargon
The British Business Bank has launched a campaign to alert and encourage SMEs to make the most of the commercial benefits of investing in decarbonisation.
Business
Be prepared if you decide to adopt a working from home policy
So, it seems sensible that both employers and members of staff take full advantage of any tax breaks or allowances available for those not in the office.
Business
Tax Planning
Be aware of your obligations when using subcontractors
They carry out work that the contractor can't perform, but remains responsible for, while the subcontractor provides his or her services under a contract for service.
Business
The benefits of taking on an apprentice
With the current labour shortage affecting pretty much all areas of the economy, taking on an apprentice could reap rewards for many businesses.
Business
Neglected commercial properties could be transformed by new initiative
Hundreds of neglected commercial properties could be transformed by a coalition of landlords and retailers with Government support.
Business
How can tourism businesses achieve Net Zero?
Whilst the Government has outlined its plan to be Net Zero by 2050, your business should have a plan in place to lower its carbon footprint.
Business
Economy
Extended Enterprise Management Incentive valuation period to be wound down
Businesses have been reminded of a change in a share option scheme that enables companies to attract and keep key staff by rewarding them with a share of the business.
Business
Taxman reminds couples to take advantage of Marriage Allowance
Marriage Allowance allows married couples or people in civil partnerships to share their personal tax allowances if one partner earns below the Personal Allowance threshold of £12,570, and the other is a basic rate taxpayer
Business
Savers facing being taxed on interest for the first time
Rising interest rates are a worry for those with a mortgage or loan, but for savers, it means an increase in their investment as savings rates rise.
Business
Tax year basis reform: Should I change my year-end?
In the first blog of this series on tax year basis reforms, we will be discussing the new rules that will affect how unincorporated businesses are taxed from 2023/24.
Business
Tax Planning
First lenders announced for new Recovery Loan Scheme
The first batch of lenders accredited to take part in the latest version of the Recovery Loan Scheme (RLS) has been announced.
Business
Interest rate hike puts pressure on taxpayers behind on payments
In light of the recent increase in the Bank of England’s base rate, HM Revenue & Customs (HMRC) has announced a rise in interest on both late paid tax and repayments of tax.
Business
More than 90 businesses created every hour
A new survey has revealed that 93 new businesses were created every hour across the UK in the first half of 2022.
Business
SMEs struggle as number of late payments increase
Small businesses are still struggling from the scourge of late payments, with a new survey showing a six per cent increase in the amount owed over a year ago
Business
The recipe to business success and how to deal with it
Success comes with its own unique challenges and we have several tips for you to manage growth and success in the best way possible.
Business
Struggling with your cashflow? Here are our top tips
Maintaining a healthy cashflow sometimes feels like a big headache, especially with the ongoing cost of living crisis hiking your costs.
Business
Firms involved in four-day week pilot satisfied with progress
Firms that signed up to take part in a four-day working week trial have reported the scheme is going well at the halfway point.
Business
Fiscal Statement
With a new King at the Palace and a new Prime Minister at Number 10, it was no surprise that the new Chancellor at Number 11 used his first statement to the House of Commons to signal a “new era” for fiscal policy.
Business
Why management accounts are vitally important for businesses
It may seem obvious, and the clue is in the name, but management accounting reports can provide vital insights into the performance of a business.
Business
Late payments add to the costs burden for SMEs
Small businesses, or SMEs, are the lifeblood of the country and their financial stability is a major factor in keeping the economy moving
Business
Economy
Self Assessment customers could be a target for fraudsters as deadline approaches
With the deadline for returning paper Self Assessment tax returns for the 2021 to 2022 tax year rapidly approaching, HM Revenue & Customs (HMRC) has warned taxpayers to be on the lookout for fraudsters.
Business
How you can make your payroll run smoothly
The smooth running of payroll is vital as your staff are one of the most important parts of your business
Business
Looking to grow – What are the benefits of networking? And how can your accountant help?
Communication and networking may not seem a priority for busy SMEs struggling against economic headwinds at the moment.
Business
Taxpayers urged to file Self-Assessment form online
The deadline for filing paper returns for Self-Assessment is now imminent, but the taxman is also reminding taxpayers that there are now less than 100 days left to file their returns online.
Business
Top tips for launching a successful start-up
Although many new entrepreneurs already have a clear vision of what they want to do, they may not know where to start.
Business
Avoiding obstacles with the Construction Industry Scheme
Under the Construction Industry Scheme (CIS), contractors take money from a subcontractor's payments and send it to HM Revenue and Customs (HMRC).
Business
HMRC raises interest rates on late payments from 22 November
HM Revenue & Customs (HMRC) will raise the interest rates on tax debt from 22 November following the 0.75 per cent increase in the Bank of England base rate.
Business
Number of R&D claims fall in HMRC fraud crackdown
A crackdown on suspected Research and Development (R&D) tax credits fraud by HM Revenue & Customs (HMRC) has led to a fall in claims for the first time.
Business
Accountants helping businesses make savings, says survey
Accountants are saving businesses time and money as well as easing the pressure of rising inflation, according to a new survey.
Business
Autumn Statement 2022
The message from the Chancellor, Jeremy Hunt, in the days before he rose to the despatch box in the House of Commons to deliver the Autumn Statement was clear; he would be outlining billions of pounds of tax rises and spending cuts.
Business
Be prepared for changes to Capital Gains Tax thresholds
The Capital Gains Tax allowance (CGT) reductions announced by Chancellor Jeremy Hunt in November’s Autumn Statement could have a significant impact on investors.
Business
The importance of cash flow for tourism businesses
With the busy Christmas period approaching, businesses operating in the hospitality and tourism sector will be dealing with increased demand.
Business
Small businesses gearing up for a bumper Christmas
Small businesses expect to make two-thirds of their yearly revenue over the festive period.
Business
Business goals – how should you keep track of your performance?
Business goals are vital to future success but it is equally as important to keep track of how your business is performing.
Business
Company name or trading name – what is the difference?
What’s in a name is a question often asked. Well, quite a lot actually when it comes to establishing a business.
Business
Furnished Holiday Let Tax: What do you need to know?
If your property qualifies as an FHL, it is classed as a ‘trade’ by HM Revenue & Customs (HMRC), meaning you are entitled to various tax advantages.
Business
How the cloud has made an impact on UK business
The impact of the "cloud" cannot be overestimated and has revolutionised the way we do business in the UK and the rest of the world.
Business
What you need to know when setting up a business
There is much to consider when setting out, including funding, staffing, strategies, sales, marketing and financial forecasts.
Business
Is your business going for growth? What you need to think about
Many businesses think of growth in terms of increased sales, but it’s also important to focus on how to maintain or improve your profitability.
Business
Don’t pay the penalty for filing late tax returns
For those who got their 2021 to 2022 Self-Assessment wrapped up before Christmas, they can enjoy the festivities. But delay too long and miss the 31 January deadline and you risk having to pay a penalty.
Business
Tax Planning
How cloud accounting can make your business grow
Traditionally, accounting processes were carried out using software and spreadsheets on a desktop computer. With cloud accounting, data can be accessed from any device with an internet connection anywhere in the world.
Business
Spring Budget 2023
Just a few days short of the third anniversary of the first Covid lockdown, Chancellor Jeremy Hunt rose to the Despatch Box to deliver the first full Budget to have taken place in 504 days and the first unaffected by the immediate impact of the pandemic since October 2018.
Business
